In a landmark speech delivered on the sidelines of the MEDays Forum in Tangiers, Morocco recently, President Joseph Nyuma Boakai expressed his vision of a modern, responsible investor in Africa. He indicated that it requires breaking the cycle of exploitation through steadfast commitments to equitable revenue and profit sharing, sustainable infrastructure development, and strong environmental, social, and governance standards. These he stressed, must be grounded in a genuine respect for Africa as a growth partner. Boakai’s vision is guided by his ARREST Agenda, which requires all stakeholders, including foreign investors, to create local value and consistent accountability mechanisms. This will act as a guideline as Liberia seeks to revive a long-dormant resource sector and optimise existing infrastructure through concession agreements with foreign companies.
Two of the most prominent concessionaires under legislative review are TotalEnergies and Ivanhoe Atlantic Ltd. TotalEnergies is Seeking to Revive Liberia’s Offshore Petroleum Industry In September 2025, Total signed four offshore production-sharing contracts (PSCs) with Liberia, signalling the potential revival of a petroleum sector which has been dormant for more than a decade. These contracts, which cover 2,700 square kilometres south of the Liberia basin, have been structured to avoid past pitfalls from other companies by incorporating stringent transparency measures, environmental safeguards, and local content requirements.
The aim is for Liberians to benefit directly from employment opportunities and training programs, as well as service contracts that channel revenue into the national economy. President Boakai described the agreements as proof that Liberia can offer a stable, lawful, and ethical investment climate.
“In 2024, I invited world-class energy companies to Liberia and pledged that under my leadership the country would offer an environment where investment flourishes, grounded in ethics, the rule of law, international best practices, and the strict enforcement of contracts,” Boakai said. If passed by the Legislature under the right conditions, this deal has the potential to be a significant step forward in the recovery of Liberia’s energy sector. Ivanhoe Atlantic Seeks Infrastructure Investment as a Catalyst for Growth
Ivanhoe Atlantic’s proposed US$1 billion investment in rail and port infrastructure seeks to align with the ARREST Agenda by making its subsidiary, Ivanhoe Liberia, the first multi-user customer of Liberia’s Yekepa – Buchanan Rail Corridor. The passage of Ivanhoe’s Concession and Access Agreement (CAA) by the Legislature will significantly increase the capacity for iron ore transport and expand employment opportunities in Nimba, Grand Bassa, and Bong counties.
The initial phase of the project involves a US$64 million investment to rehabilitate existing tracks, build road access, and upgrade port infrastructure, enabling an export capacity of 2–5 million tons of iron ore per annum (mtpa). In phase 2, an additional US$888 million is planned for railway upgrades and port expansions to support the potential movement of up to 30 million tons of iron ore annually.
Equally important is the planned social and economic impact. The company has committed to hiring and training Liberians first, creating 500 direct jobs during the initial construction and operational phase, complemented by an estimated 3,000 indirect jobs across sectors such as waste management, border security, hospitality, healthcare, and transportation.
Ivanhoe will also establish a Community Development Fund to support populations along the railway corridor in Nimba, Grand Bassa, and Bong counties, with contributions beginning at US$1 million annually and increasing to US$5 million after five years. In the President’s remarks in Tangier, he called for the swift establishment of the African Continental Free Trade Area. Ivanhoe’s CAA builds on a Bilaterial Implementation Agreement between Liberia and Guinea that will support more trans-border trading. This agreement aligns with the African Mining Vision and the principles of economic integration adopted at the Economic Community of West African States (ECOWAS) and Mano River Union (MRU).
Ivanhoe Atlantic’s aspirations for Liberia exemplify President Boakai’s vision of good partnership as a tool for sustainable economic development that is built on combining world-class infrastructure, local empowerment, job creation and community development.
President Boakai’s Clear Message: Foreign Investors Must Offer Genuine Partnership The TotalEnergies and Ivanhoe Atlantic agreements illustrate the potential of foreign capital to play a positive role in reviving dormant sectors, optimising infrastructure, creating jobs, and fostering equitable economic growth when guided by ethical governance. It is now down to Liberia and these companies to guarantee, as the President said in his remarks, “That the God given resources of Africa uplift the people of Africa first.” With the right provisions, Liberia’s rich natural resources can truly serve Liberians. Under President Boakai’s leadership, the nation has set a clear benchmark – investment must be responsible, transformative, and rooted in genuine partnership.
